Geez, it doesn't look that terrible.
I agree that this movie will probably be bad, but I do like the concept. Taking the original characters and transporting them into today's world worked miracles for The Brady Bunch Movie, a film that seemed like such a bad idea that it would please nobody. I kind of like the postmodern twist of having Fat Albert meet Bill Cosby, but admittedly there isn't much to laugh at in the trailer.